The Economics Of It

Is a prediction market just gambling in a financial suit? Kalshi CEO Tarek Mansour says no: a casino bets against you, while an exchange simply matches buyers and sellers and takes no side.

Host Ryan Bourne asks him about prediction markets' forecasting records, how businesses can use these event contracts to hedge risk, and the turf war over who regulates them, Washington or the states.

The Wisdom of Crowds: An Intro to Prediction Markets, Cato Weekly Podcast: https://www.cato.org/multimedia/cato-podcast/wisdom-crowds-intro-prediction-markets

Prediction Markets Are Not ‘Just Gambling’ Platforms: https://www.nationalreview.com/2026/10/prediction-markets-are-not-just-gambling-platforms/

Prediction Markets Should Not Be Subject to Fragmented Regulation: https://www.cato.org/blog/prediction-markets-should-not-be-subject-fragmented-regulation

Ban prediction markets? That didn’t go well in 1591: https://www.washingtonpost.com/opinions/2026/09/24/prediction-markets-should-not-be-treated-like-casinos/

Host & Producer: Ryan Bourne

Senior Producer: Barbara Galletti

Video Editor: Darren Walker

Audio Engineer: Cecil Sherman

Director of Photography: Darren Walker

Assistant Producer: Nathan Miller

Motion Graphics: Jonathan Fields

Original Music: Cecil Sherman

Executive Producer: Kristina Kendall

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Economics isn't just about stock markets or GDP numbers. It's the study of the choices we all make when time, money, land, energy, and attention are limited.

On The Economics of It, Cato Institute economist Ryan Bourne sits down each week with leading economists, thinkers, and authors to uncover the hidden economics behind today's biggest debates. From rent control to tariffs, AI to the cost of war, if it's making headlines, there's economics behind it.

Each episode goes beyond the talking points with clear economic reasoning, asking how policies actually play out, who benefits, who bears the costs, and what unintended consequences follow.

New episodes every Thursday, starting October 29th. Subscribe so you don't miss one.

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